12/06/2018 | Press release | Distributed by Public on 12/05/2018 22:25
Singapore Exchange (SGX) today welcomed HGNH International Financial (Singapore) Pte Ltd. as a Trading and Clearing Member of its derivatives market.
HGNH International is a wholly owned subsidiary of Nanhua Futures Co. Ltd., a financial and commodity futures broker based in Hangzhou, China. Established in Hong Kong in 2006 and newly set up in Singapore, it offers a full suite of futures and foreign exchange brokerage services.
Michael Syn, Head of Derivatives at SGX, said, 'We are delighted to welcome HGNH International to our derivatives trading and clearing membership. They are among the most experienced Chinese futures companies and we look forward to working closely with them as we grow our reach in Greater China, bringing our risk-management services to more clients.'
Luo Xufeng, General Manager of Nanhua Futures, said, 'SGX is a world-leading exchange and a pioneering central counterparty in Asia and we are deeply honoured to be the first China futures company to obtain clearing membership of SGX. This is a significant development in our ongoing commitment to provide clients with high-quality services, high efficiency and expertise. It will further leverage our business and services and could help us to even better meet clients' needs. Moreover, it can further internationalise the development of Nanhua Futures.'
With the addition of HGNH International, SGX's derivatives market now has 63 Trading Members and 25 Clearing Members.